Businesses have been given longer to apply for support in the wake of the lockdown.

Applications for the Coronavirus Business Support Scheme - Circuit Break (March 2021) and the Business Premises Support Scheme (BPSS), which were introduced to support businesses during the Circuit Break Lockdown, have been extended until Friday, May 14.

The CBSS - Circuit Break was introduced on March 2 and provides local businesses and self-employed individuals in designated sectors with grant assistance of up to £3,500.

Eligible applicants must declare that their turnover was reduced by 25% or more due to the March/April 2021 Circuit Break Lockdown, and have more than £250 of eligible monthly business overheads per calendar month.

Businesses and self-employed individuals can apply for the CBSS - Circuit Break (March 2021) by visiting: www.iomdfenterprise.im/financial-support/funding/cbss-cbl

The Business Premises Support Scheme provides grant assistance to support local businesses in designated sectors that have been financially affected by the Covid-19 pandemic, who have been materially impacted by 25% or more over the course of the pandemic and operate from commercial business premises.

The BPSS operates in two parts:

Part 1: Rates Payment Element

Offers financial support in the form of a grant payment to eligible businesses in designated sectors, equivalent to the business’ annual rates bill for each of its commercial premises.

Part 2: £250 Payment Element

Offers a one-off payment of £250 for each of the applicant’s commercial premises within the hospitality and catering sector that would normally open on Saturdays and/or Sundays and either:

a) closed earlier than usual; or

b) didn’t open at all on either February 2 or the next day in line with government coronavirus advice issued that weekend.

Businesses and self-employed individuals can apply for the BPSS by visiting: https://www.iomdfenterprise.im/financial-support/funding/cbss-bpss/